This Is Not Your Father's Banking Business

• Posted: Tuesday, June 10, 2008
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• Author: pradhana
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• Filed under: Online Services

Have you heard? Banks are playing games online—and that's a good thing!

The banking business is changing in ways no one would have predicted a few short years ago.

Of course, banks are going through credit market collapses, a period of threatened recession and economic jitters. But even so they continue to invest in their Web sites, adding more online products, services and transactions.

In fact, the fundamental changes bank marketers are instituting online may be ultimately more far-reaching and lasting than today's headline-grabbing events.

Given consumers' concerns about security and privacy, banks are understandably cautious when it comes to tapping into the marketing and community-building potential of social networks, blogs, instant messaging and other Web 2.0 platforms. Most banks have adopted a wait-and-see approach regarding using new media for promoting products, offering client services and engaging in customer interactions.

Read more - eMarketer

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